GBP/USD

Fresh bearish extension on Tuesday after recovery was repeatedly rejected under falling 20DMA, retraced over 50% of 1.2015/1.2175 recovery phase and also probes below 10DMA (1.2099), close below which would signal an end of recovery phase and further weaken near-term structure. Momentum, stochastic and RSI are turning south on daily chart and add to negative signals. Bears need extension and close below 1.2076 (Fibo 61.8%) to confirm reversal and re-focus key 1.20 support zone, below which a number of stops are parked and violation can spark strong bearish acceleration. Falling 20DMA (1.2168) and Fibo 38.2% of 1.2522/1.2015/6 Aug high (1.2208) mark pivotal barriers which are expect to keep the upside protected and keep bears firmly in play.

Res: 1.2114; 1.2138; 1.2168; 1.2208
Sup: 1.2076; 1.2044; 1.2015; 1.2000

GBPUSD

 

Interested in GBP/USD technicals? Check out the key levels

    1. R3 1.2233
    2. R2 1.2203
    3. R1 1.2165
  1. PP 1.2135
    1. S1 1.2097
    2. S2 1.2067
    3. S3 1.2029

 

The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD struggling to hold onto 1.10 as USD gains ground

EUR/USD is trading close to 1.10, as the US dollar gradually advances. Two White House advisers expressed contradicting accounts of US-Sino trade talks, causing confusion. Germany refrained from adding fiscal stimulus.

EUR/USD News

GBP/USD trades around 1.25 as EU pours cold water on Brexit hopes

GBP/USD is trading around 1.25, off the two-month highs of 1.2582 as EU officials cast doubts about the seriousness of the new UK proposals on Brexit. 

GBP/USD News

USD/JPY drops to one-week lows on trade war headlines

The USD/JPY fell during the American session following reports that the Montana Farm Bureau said China's delegation has canceled a planned trip to view US agriculture.

USD/JPY News

Top 3 price prediction Bitcoin, Ripple, Ethereum: Ethereum points to the Moon as Bitcoin takes a break

ETH/USD exceeds $220 and is bidding to lead the market. Bitcoin sets a bear trap and recaptures $10,000. XRP stalls between technical levels and fails to consolidate $0.30.

Read more

Gold climbs further beyond $1500 mark, lacks follow-through

Gold edged higher for the second consecutive session on Friday, albeit remained well within a familiar trading range held over the past two weeks or so.

Gold News

Forex Majors

Cryptocurrencies

Signatures